3018 Grant Blvd · Syracuse, NY 13208

$239,900

4 bd · 2.0 ba · 1,740 sqft · MultiFamily public records · 87 Days on market

Built 1890 6,204 sqft lot $138/sqft · at area comps Est $252k · at est.

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +24.3/30.0
• Appreciation +10.0/10.0
• ARV discount +9.6/15.0
• DSCR +7.8/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Prime Location and Unique Multi-Use Investment Opportunity 2 family home with expanded off-street parking, includes adjacent lot for possible expansion. Oversized garage (could rent for storage or use has sewer/water hookup). New roof on house and garage. Prime location minutes from Destiny, Mets Stadium, downtown, hospitals, SU, highways. Watch fireworks at Stadium from your porch!

Key facts

• 6,204 sq ft lot
• 3 garage spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive. Per door: $240/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $226k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 77/100 on livability (#187 in NY, #2,869 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment D-.
• Syracuse City School District (urban): math 18% / reading 26% proficiency, ranked #590 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 100 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 616 units permitted in Onondaga County in 2024 (256 in 5+ unit buildings).
• At $2,524/mo this rent would consume 68% of the median local household income ($45k/yr) (locally 1437% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k appreciation (10.0% local appreciation)).
• Onondaga County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $40k; list at $240k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.59%
• DSCR: 1.38
• GRM: 7.9

CMA / ARV

• ARV (median comp): $251,652
• List price: $239,900
• Delta: -4.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722-724 Lemoyne Ave	0.16mi	4/2.0	1,747 (+0%)	11mo	$155,500	$89	83
1210 Carbon St	0.38mi	4/2.0	1,594 (-8%)	10mo	$42,500	$27	60
218-20 Turtle St	0.65mi	5/2.0 (+1)	1,698 (-2%)	8mo	$106,500	$63	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.5%
• Equity multiple: 3.40×
• Total profit: $161,232
• Equity at exit: $216,121

10-year hold

• IRR: 26.4%
• Equity multiple: 7.71×
• Total profit: $450,615
• Equity at exit: $466,073

Cash invested: $67,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 13208

• Home prices YoY: 8.4%
• Active inventory: 100
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $2,524 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$155 /mo · $1,861/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$530
• Net cashflow: $481

Break-even live

Break-even rent $1,915

Max offer price $239,900

Occupancy floor 76%

Sensitivity live

Price	-10% $617	-5% $549	+0% $481	+5% $413	+10% $345
Rent	-10% $281	-5% $381	+0% $481	+5% $581	+10% $680
Rate	-1.0pp $602	-0.5pp $542	base $481	+0.5pp $419	+1.0pp $355

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,524
Total (2 units)			$2,524

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
286 Ross Park Syracuse, NY	3.0	1.0	1100	$1,500	$1.36	45d	1	0.61mi
130 Old Liverpool Rd Liverpool, NY	4.0	1.0	1100	$1,700	$1.55	14d	1	1.12mi
126 Woodruff Ave Syracuse, NY	3.0	1.0	1200	$1,675	$1.40	44d	1	1.22mi
106 Harrington St Syracuse, NY	3.0	1.0	1168	$1,875	$1.61	44d	1	1.25mi
746 E Laurel St Unit 1 Syracuse, NY	4.0	2.0	1400	$1,500	$1.07	44d	1	1.35mi

Listing history 29 events

1. 2026-06-21
   days on market $239,900 Active 87 DOM
2. 2026-06-18
   days on market $239,900 Active 84 DOM
3. 2026-06-17
   days on market $239,900 Active 83 DOM
4. 2026-06-16
   days on market $239,900 Active 82 DOM
5. 2026-06-15
   days on market $239,900 Active 81 DOM
6. 2026-06-14
   days on market $239,900 Active 79 DOM
7. 2026-06-13
   days on market $239,900 Active 78 DOM
8. 2026-06-10
   days on market $239,900 Active 76 DOM
9. 2026-06-09
   days on market $239,900 Active 75 DOM
10. 2026-06-08
    days on market $239,900 Active 74 DOM
11. 2026-06-07
    days on market $239,900 Active 73 DOM
12. 2026-06-05
    days on market $239,900 Active 70 DOM
13. 2026-06-02
    days on market $239,900 Active 68 DOM
14. 2026-06-01
    days on market $239,900 Active 67 DOM
15. 2026-05-31
    days on market $239,900 Active 66 DOM
16. 2026-05-30
    days on market $239,900 Active 65 DOM
17. 2026-03-26
    listed $239,900 Active 385-char remark

    Show marketing remark (385 chars)

    Prime Location and Unique Multi-Use Investment Opportunity 2 family home with expanded off-street parking, includes adjacent lot for possible expansion. Oversized garage (could rent for storage or use has sewer/water hookup). New roof on house and garage. Prime location minutes from Destiny, Mets Stadium, downtown, hospitals, SU, highways. Watch fireworks at Stadium from your porch!

18. 2025-12-31
    historical
19. 2025-09-20
    price $249,900
20. 2025-04-30
    price $259,900
21. 2025-01-01
    price $279,900
22. 2024-07-13
    price $239,000
23. 2024-05-24
    price $247,000
24. 2024-03-29
    historical $850
25. 2024-03-07
    status Active
26. 2024-01-31
    listed $850
27. 2024-01-05
    historical
28. 2023-06-14
    listed $199,900 Active
29. 2005-12-20
    soldstatus $40,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,861 · $155/mo
• Projected year-2 tax: $2,958 · $246/mo
• Expected delta: +$1,097/yr (+$91/mo · 58.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥95°F today · 16 d/yr by 30 yrs out
• 💨 Wind 1/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,288
• − Mortgage interest: −$13,438
• − Property taxes: −$1,861
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,423
• − Management: −$2,423
• − Depreciation: −$6,979
• Taxable income: $1,965
• Est. tax owed @ 24.0%: −$471
• After-tax cash flow: $5,299/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Syracuse City School District
• NCES district ID: 3628590
• Math proficiency: 18% ▼ -5.00%
• Reading proficiency: 26% ▬ 0.00%
• Median HH income: $32,097
• Composite: 17.83/100
• National rank: #9007
• State rank: #590 of 590 in NY

Livability — Syracuse

• Score: 77/100
• State rank: #187
• US rank: #2869

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D- Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Syracuse, NY
• County: Onondaga County · 247,257 people
• City population: 152,627
• Metro: Syracuse, NY
• Population (ZIP): 22,993
• Household income: $44,712
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1437.0

Population outlook (Onondaga County) Hauer SSP2

• Today (2025): 467,894 people
• By 2030: 463,381 · -1.0%
• By 2040: 447,697 · -4.3%
• By 2050: 426,399 · -8.9%
• By 2075: 373,661 · -20.1%
• By 2100: 307,967 · -34.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 46% Black 24% Asian 14% Two or more races 10% Hispanic / Latino 6%
• Hispanic origin (detail): Puerto Rican 4% Dominican 1%
• Common ancestry: Romanian 3% Swedish 3% Italian 1%
• Foreign-born: 22% · Vietnam, Philippines, Canada
• Languages at home: 70% English-only · Spanish 6% Other Asian/Pacific 5% Vietnamese 4%

Political lean MEDSL · Onondaga

• 2024 margin: D (+17.3) · D 58.6% · R 41.4%
• 2008→2024 swing: -3.0pp toward R · 2008: 20.3pp · 2024: 17.3pp
• All cycles: 2024: D+17.3 2020: D+20.6 2016: D+12.8 2012: D+21.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 30.91%
• Current HPI: 399.3284
• Rent YoY: —
• Metro: Syracuse, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+499.7% since first listed

13 events — show timeline

• 2026-03-26 Listed $239,900 CNYIS
• 2025-12-31 Listing Removed — CNYIS
• 2025-09-20 Price Changed $249,900 CNYIS
• 2025-04-30 Price Changed $259,900 CNYIS
• 2025-01-01 Price Changed $279,900 CNYIS
• 2024-07-13 Price Changed $239,000 CNYIS
• 2024-05-24 Price Changed $247,000 CNYIS
• 2024-03-29 Rental Removed $850 NYSAMLS
• 2024-03-07 Relisted — CNYIS
• 2024-01-31 Listed for Rent $850 NYSAMLS
• 2024-01-05 Listing Removed — CNYIS
• 2023-06-14 Listed $199,900 CNYIS
• 2005-12-20 Sold (Public Records) $40,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,861 · +0.0% YoY. Source: county tax records.